NDTV announced a consolidated net loss of Rs 10.16 crore for the quarter ending December 2023, attributing it to expenses related to new regional and business channels.
Photograph: Ahmad Masood/Reuters
New Delhi, Jan 30 (PTI) News Broadcaster New Delhi Television Ltd on Tuesday reported a consolidated net loss of Rs 10.16 crore for the third quarter ended December 2023.
The company had posted a consolidated net profit of Rs 15.18 crore in the October-December quarter last fiscal, New Delhi Television Ltd (NDTV) said in a regulatory filing.
Its consolidated revenue from operations fell 7 per cent to Rs 97.95 crore during the period under review. It was Rs 105.37 crore in the year-ago period, it added.
"NDTV is monitoring revenue enhancement for its recently launched regional channels and business channel, which are the main contributors to the EBITDA loss incurred by the network during the quarter," said an earning statement.
Its operating expenses increased 29 per cent year-on-year "due to regional channel expenses and re-launch expenses of business channel", which are in investment mode.
The total expenses rose 24.8 per cent to Rs 110.23 crore in the December quarter of FY24.
The company is in an expansion mode, and investing in infrastructure and resources to increase its network of channels and footprint across the country, it said.
The NDTV network now has a bouquet of five news channels, up from two at the beginning of the financial year, the statement said.
Shares of New Delhi Television Ltd on Tuesday settled at Rs 275.65 on BSE, down 0.81 per cent from the previous close.
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